News / International
Iran Sets $200b Investment Target for Oil Sector
Iran’s oil and gas sector needs an injection of $200b worth of investments, according to Iran’s Minister of Petroleum, Bijan Zangeneh, stated. $130b is required for upstream, while the remainder is needed for processing facilities.
Mozambique Received over $8b in Investments from India
India says it has invested more than $8b in Mozambique in recent years, a figure that represents about 25% of the Asian country’s investment in Africa.
Russia to Export Electricity to Azerbaijan, Iran
Azerbaijan, Iran, and Russia are collaborating together to establish an energy corridor, linking the three countries. The corridor will be used to export electricity from Russia to Azerbaijan and Iran.
Iran to See Foreign Oil Companies Paying Off Debts in Euros
Iran says foreign firms, which owe the country its oil money, are ready to settle their debts, with Greece’s Hellenic Petroleum, Italy’s Saras, and Royal Dutch Shell owing Iran altogether about $4b.
Nigeria Lost $831m due to Gas Flaring in 2015
Nigeria lost $831m as oil and gas firms in the country flared 271.38bscf gas in 2015, according to data published by the Nigerian National Petroleum Corporation, NNPC, in its Monthly Financial and Operations Report for December 2015.
Ghana to Develop Tema LNG Project Worth $550m
Ghana National Petroleum has signed heads of terms with Quantum Power for the construction of the liquefied natural gas (LNG) storage, regasification, and delivery facilities at Tema, Ghana.
UAE’s and Chinese Firms Launch Oil Services Joint Venture
UAE-based Al Falahi Group has signed an agreement with Chinese Eastern Dragon Co., a global leader in oil field services, to launch a joint venture worth $8m in the UAE.
US EIA Forecasts Gas Production Decline in 2016
The US Energy Information Administration (EIA) revealed its forecast for US domestic natural gas production in 2016, which is expected to mount to 79.69bcf/d, marking the sixth annual record high. 
